3M Company (NYSE:MMM) saw some unusual options trading on Friday. Investors bought 5,772 put options on the stock. This represents an increase of approximately 274% compared to the typical daily volume of 1,543 put options.

3M (NYSE:MMM) last issued its quarterly earnings data on Tuesday, July 25th. The conglomerate reported $2.58 EPS for the quarter, missing analysts’ consensus estimates of $2.59 by ($0.01). 3M had a net margin of 17.65% and a return on equity of 47.83%. The firm had revenue of $7.81 billion during the quarter, compared to analyst estimates of $7.86 billion. During the same period in the prior year, the company earned $2.08 earnings per share. The business’s quarterly revenue was up 1.9% compared to the same quarter last year.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 12th. Shareholders of record on Friday, August 25th were issued a $1.175 dividend. This represents a $4.70 dividend on an annualized basis and a yield of 2.23%. The ex-dividend date of this dividend was Wednesday, August 23rd. 3M’s dividend payout ratio is 53.59%.

Several equities analysts have commented on the company. Royal Bank Of Canada reiterated a “hold” rating and set a $209.00 price target on shares of 3M in a report on Friday, September 15th. Jefferies Group LLC restated a “buy” rating and issued a $234.00 price objective on shares of 3M in a research note on Wednesday, August 16th. J P Morgan Chase & Co downgraded shares of 3M from a “neutral” rating to an “underweight” rating and raised their price objective for the stock from $185.00 to $201.00 in a research note on Wednesday, September 20th. BidaskClub downgraded shares of 3M from a “strong-buy” rating to a “buy” rating in a research note on Friday, June 30th. Finally, Bank of America Corporation restated a “buy” rating and issued a $225.00 price objective (up previously from $208.00) on shares of 3M in a research note on Tuesday, June 6th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $207.35.

In other 3M news, insider Frank R. Jr. Little sold 2,719 shares of the stock in a transaction that occurred on Thursday, August 17th. The stock was sold at an average price of $206.03, for a total transaction of $560,195.57. Following the transaction, the insider now owns 9,010 shares in the company, valued at $1,856,330.30. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Paul A. Keel sold 4,965 shares of the stock in a transaction that occurred on Friday, August 11th. The shares were sold at an average price of $206.16, for a total value of $1,023,584.40. Following the transaction, the insider now owns 5,503 shares in the company, valued at approximately $1,134,498.48. The disclosure for this sale can be found here. In the last quarter, insiders have sold 9,112 shares of company stock worth $1,878,890. Corporate insiders own 0.58% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Jackson Grant Investment Advisers Inc. grew its holdings in 3M by 0.6% in the 1st quarter. Jackson Grant Investment Advisers Inc. now owns 718 shares of the conglomerate’s stock valued at $137,000 after buying an additional 4 shares in the last quarter. Founders Capital Management LLC grew its holdings in 3M by 0.4% in the 1st quarter. Founders Capital Management LLC now owns 1,939 shares of the conglomerate’s stock valued at $371,000 after buying an additional 8 shares in the last quarter. Baystate Wealth Management LLC grew its holdings in 3M by 0.6% in the 1st quarter. Baystate Wealth Management LLC now owns 1,950 shares of the conglomerate’s stock valued at $370,000 after buying an additional 11 shares in the last quarter. Capital Management Corp VA grew its holdings in 3M by 0.3% in the 1st quarter. Capital Management Corp VA now owns 3,934 shares of the conglomerate’s stock valued at $753,000 after buying an additional 11 shares in the last quarter. Finally, Smith Chas P & Associates PA Cpas grew its holdings in 3M by 0.7% in the 1st quarter. Smith Chas P & Associates PA Cpas now owns 1,952 shares of the conglomerate’s stock valued at $374,000 after buying an additional 13 shares in the last quarter. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

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3M Company Profile

3M Company is a technology company. It operates through five segments. The Industrial segment serves a range of markets, such as automotive original equipment manufacturer and automotive aftermarket, electronics, appliance, paper and printing, packaging, food and beverage, and construction. The Safety and Graphics segment serves a range of markets for the safety, security and productivity of people, facilities and systems.

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